China tops Asia-Pacific CEOs’ picks for investments in the next three to five years, followed by Indonesia and the United States, according to a survey of 500 business leaders.
Enjoying an almost infinite supply of cheap labour, easily obtained credit and an economy that never stopped running, many multinational corporations struck gold by helping turn a one-time economic backwater into the world’s factory floor that churns out everything for everywhere.
But as GDP growth slowed, wages surged and financial risks increased, economists warned the world’s second-largest economy, the engine driving global growth, could be losing steam.
According to Price waterhouse Coopers (PwC), the CEOs in Asia-Pacific Economic Cooperation (APEC) countries, however, still think the Chinese economy is best prepared to handle changes, describing macroeconomic stability and regulatory consistency the most important qualities that help an economy bounce back from disruption. The study found 68% of CEOs are planning to increase investments.